Find out everything you need to know about the SR-22 form, including when you might need it and how to get it!
If you’ve encountered the term “SR-22” in the context of car insurance, or even had recent traffic violations and stumbled upon it, it might have raised some questions. Well, don’t worry, we are going to answer all of your questions regarding the topic.
Let’s delve deeper into what an SR-22 is, who needs it, and how to navigate the process of obtaining it, so you can have a much smoother process. Also, if you want to check out more financial tips on our website, you can click on this link!
What Is An SR-22?
An SR-22 is a form you’ll need to file with your state’s Department of Motor Vehicles (DMV), proving that you maintain the minimum required insurance coverage. This filing acts as a guarantee to the state that you’ll be financially responsible in the event of an accident. In simpler terms, it’s a way for the state to monitor drivers who have shown a history of non-compliance with insurance regulations or driving laws. There are three types of SR-22 forms:
| Types of SR-22 Forms | |
|---|---|
| Owner’s Certificate | Covers you when driving the vehicle you own |
| Operator’s Certificate | Covers you when driving a vehicle you don’t own; also known as a non-owners certificate |
| Owner’s-Operator’s Certificate | Covers you when driving any vehicle |
Who Needs It?
As mentioned earlier, it is mandated by the state after certain driving offenses. Althought it varies by state, you’ll need to maintain SR-22 insurance for typically 3 to 5 years. Here are some of the reasons why a state might require you to have it:
- Driving Under the Influence (DUI);
- Driving While Intoxicated (DWI);
- Driving Without Insurance;
- Driving Without a License;
- Multiple Traffic Violations;
- Failing to Appear in Court for a Traffic Violation.
How Much Does It Cost?
The cost depends on several factors, including:
- Filing Fees: SR-22 forms need to be filed for each auto insurance policy term, typically every six or twelve months. The filing fee usually ranges around $25, though it can vary by state. If you’re required to maintain an SR-22 for three years, this could mean paying the $25 fee three to six times, depending on your policy terms. In some states, you might need to pay this fee directly, while in others, your insurance company may add it to your policy cost;
- Insurance Rates: an SR-22 signals to insurers that you are a high-risk driver, which often results in higher premiums. The extent of the rate increase depends on several factors, including your location, driving record, claims history, and the nature of the violation.
How to Get SR-22 Insurance
- Contact your Current Insurance Company: they can usually handle the SR-22 filing for you, although there might be an additional fee involved;
- Shop Around for Quotes: if your current insurer’s price seems high, compare quotes from other insurance companies specializing in high-risk drivers;
- Choose an Insurance Company and Policy: select a company offering competitive rates and coverage that meets your needs. You may need to share a copy of the letter or mandate you received from the DMV. Then, the insurer will file the SR-22 form with your state’s DMV;
- Maintain your Insurance and Driving Record: it’s crucial to maintain continuous insurance coverage throughout the SR-22 filing period and avoid further driving violations.
SR-22 vs. FR-44: What’s the Difference?
While both serve similar purposes, there’s a key difference in the required coverage amounts. An SR-22 typically covers the state minimum liability requirements, while FR-44 mandates higher coverage limits, often double the state minimum. FR-44 filings are usually required after more serious offenses like multiple DUIs or accidents with significant damages.